Federation of the Swiss Watch Industry Insights: Breitling's Optimism Amid China Slowdown
Swiss Watch Industry's Response to Economic Challenges
Breitling AG’s CEO Georges Kern shows positive outlook for the luxury market recovery, emphasizing the importance of diversifying market dependencies. He noted that the luxury sector faced challenges related to China’s declining purchasing power, impacting high-end retailers worldwide.
Opportunities in Emerging Markets
Kern brings attention to India, where luxury shopping infrastructure has improved significantly. The Swiss watch industry must adapt to shifting consumer behaviors, embracing local market growth amidst global economic fluctuations.
Future of the Luxury Market
The current situation presents both risks and opportunities for luxury companies. Companies like Breitling and Swatch Group AG are expanding presence in regions with rising wealth. The Federation of the Swiss Watch Industry calls for more proactive strategies to strengthen the luxury market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.